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Honda reports $2.3 billion profit despite pandemic

TOKYO — Japanese automaker Honda reported Friday that its profit rose 23% in the last quarter, despite a pandemic that has slammed businesses around the world. Tokyo-based Honda said its July-September profit was 240.9 billion yen ($2.3 billion), up from 196.5 billion yen a year earlier, as the auto market recovered in some parts of the world. Honda said it carried out aggressive cost cuts that involved a “fundamental review” of its operations. The situation was also improving from earlier this year, when lockdowns and other problems related to COVID-19 caused disruptions of some production and an inventory crunch. Quarterly sales slipped to 3.65 trillion yen ($35 billion) from 3.73 trillion yen the same period a year earlier. Honda warned that uncertainty remains amid rising COVID-19 cases. But the company stressed it was managing to cling to profitability. Reflecting that upbeat mood, Honda raised its profit forecast for the fiscal year through March 2021 to 390 billion yen ($3.8 billion) from an earlier projection for 165 billion yen ($1.6 billion). The latest forecast is still lower than the 455.7 billion yen profit Honda booked in the previous fiscal year. Honda sold slightly more vehicles in the quarter through September at 1.25 million vehicles, compared to 1.24 million vehicles in the same period of 2019. But it sold fewer motorcycles at nearly 4.5 million motorcycles, down from nearly 5.1 million. Kohei Takeuchi, a senior Honda manager, said much of the damage to sales likely came from the pandemic, though he hesitated to blame the entire decline on the pandemic. Executive Vice President Seiji Kuraishi told reporters Honda is bullish on shifting its lineup to ecological models to keep up with the global efforts to curb carbon emissions and global warming. Also Friday, Toyota raised its full year fiscal forecasts to a 1.4 trillion yen ($13.5 billion) profit, after reporting results that appear to show a gradual but sure recovery. Its profit fell 11% in the last quarter. Nissan reports financial results next week. Related Video: Earnings/Financials Acura Honda

Acura gives us a peek at 'Type S' concept debuting at Monterey Car Week

We’ve known that Acura is bringing the Type S moniker back since the Detroit Auto Show in 2018. Spy shots have shown what may be Type S versions of current Acuras out testing in heavy camouflage, but we still arenÂ’t sure what the first new Type S will be after the long drought. What weÂ’re getting today is a teaser for an Acura Type S Concept slated to debut at Monterey Car Week. The car is shrouded in plenty of shadows and darkness, but a body shape emerges from the teaser video. Just like the stunning Acura Precision Concept, the Type S Concept is going to take the form of a four-door coupe. A report from earlier this year pegged this show car to be a near production-ready vehicle in the likes of the Precision Concept. Looking at the silhouette tells us that prediction was on to something. Acura says that this conceptÂ’s purpose will be to “set the design direction for the return of Type S variants to the Acura lineup in the years ahead.” WeÂ’ll be seeing it in an event Aug. 15. Folks will be able to check it out at The Quail, a Motorsports Gathering the following day or at the actual Pebble Beach Concours dÂ’Elegance on that Sunday. The one teaser image Acura provided shows a rather striking taillight element and an assumed quad exhaust design. ThereÂ’s an aggressive-looking diffuser and a prominent spoiler gracing the rear-end. It also proudly displays the Type S badge on the trunk lid. We get some hints at the new Type S direction here, but weÂ’ll reserve judgment for seeing the car as a whole. You'll find a quick teaser video at the bottom of this post, too. WeÂ’re sure youÂ’re all as excited as we are about the return of Type S. Acura made some pretty sweet Type S variants over the years, our favorite most likely being the sporty RSX Type S. There were other even more intriguing S-badged Honda vehicles overseas, too. It was never sold in America, but the original NSX received both Type S and Type S Zero variants in Japan. ItÂ’ll be interesting to see which current models Acura decides are worthy of the Type S badge this time around. Our bet is on the TLX and RDX to begin with. However, what weÂ’d really love to see is a return to the hot compact car segment. Honda has done such an impressive job with the Civic Type R at its relatively low price point. Why not spread some love to a small, sporty Acura, because the ILX in its current form just doesnÂ’t cut it when your history is full of fun-to-drive Integras.

Ford Mustang GTD, Acura ZDX and Pebble Beach recap | Autoblog Podcast #795

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. In the news, there were a lot of recent unveilings, including the Ford Mustang GTD, Pininfarina B95, Lamborghini Lanzador, Acura ZDX and Fisker Alaska. We recap Pebble Beach and the Woodward Dream Cruise. Joel is fresh off a track drive of the Audi R8 (at Laguna Seca!), and we give ann update on our long-term Toyota Sienna minivan. Finally, we take to Reddit to help pick a new car with a V8 in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #795 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2025 Ford Mustang GTD revealed as a race car for the road — it costs $300,000 Pininfarina B95 revealed, 0-60 in 2 seconds, and at $4.8 million is the priciest EV ever Lamborghini Lanzador concept is a megawatt wedge previewing the first Lamborghini EV 2024 Acura ZDX revealed with up to 500 horsepower Fisker Alaska electric pickup specs, price and production plans revealed Cars we're driving 2023 Audi R8 Quattro Long-term 2023 Toyota Sienna Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Acura Audi Fisker Ford Lamborghini Toyota Concept Cars Electric Future Vehicles Luxury Performance